A digital BaU
The COVID-19 pandemic has taught the world a lot of things. For corporates, the messages are varied and complex. But one thing is clear: digital operations are no longer a ‘nice to have’, but a fundamental and critical part of modern business.
In 2020 there was still scepticism about digitisation in businesses. But COVID-19 taught us you can do things remotely, you can do things electronically, and resourcing systems so they can be agile in a time of heightened change is really, really important.
The pandemic was a clear inflexion point. Digitisation moved from number four or five on the agenda of many businesses to a clear number one. This occurred all the way from the customer experience side to core treasury functions, IP and product development – and even in employee experience as businesses ensured continuity during crisis. In 2021, we can expect that trend to continue.
For businesses all across the globe, the New Year will be about taking the lessons of 2020 and integrating them into their BaU operations. The inevitable result of this is a more-digital world.
Part of this change will be the increasing importance of data. Like digital, we've been talking about data for a long time, but it has never been more important than now.
In 2021, expect to see an increase use of data and analytics to support corporate decision making, with further developments in machine learning and AI to continue to evolve the data proposition.
After an unprecedented 2020, the outlook for 2021 is a difficult one to pin down. The post-COVID landscape is one of rapid technological change, a transformational shakeup of global trading orthodoxy, and an increasing focus on sustainable business practices.
At ANZ Institutional, we aim to help our customers put themselves in the best possible position to take advantage of these forces. Our subject-matter experts have the insight to offer market-leading thought leadership in a range of complex areas from across more than 30 global markets.
We are asking our experts about the key factors they see shaping markets and industry in 2021 – and the opportunities and challenges within. We’ll be sharing the responses with you over the coming weeks.
The year 2021 will one of surplus liquidity in the market. Given the ongoing low-rate environment, yield is going to be a challenge. How businesses effectively deploy that liquidity is an open question in the New Year.
Additionally, the uncertain environment in the trade business will be an ongoing issue. That's a reflection of broader economic conditions.
In response, many businesses are reviewing their supply chains and thinking differently about how they can support them. I think that will be an exciting thing to see over the next 12 months and into the long term.
Lisa Vasic is MD, Transaction Banking at ANZ Institutional
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